Written By Onyeka Daniel
Few hours ago, it was reported that Bahrain based group, Investcorp is the interested party that wants to buy Italian side, Inter Milan from their current owners, Suning and there’s a new development on the possible sale even if there’s no official word from the parties involved.
The Bahrain-based fund InvestCorp have released a coy response to recent rumours that they are ready to make an offer to buy Inter Milan from Suning. According to a recent report, due diligence is already underway by a Middle Eastern fund on a potential takeover of Inter Milan.
The report further stated that the valuation of the potential sale would be around €1.3bn with the interested fund being either InvestCorp or Mubadala. Already, InvestCorp have issued a brief statement that they can
“Neither confirm nor deny these reports” regarding their links to a sizable offer to purchase the Italian club, further fueling the talks. Rumours about a possible change in owner have been persistent in recent years. And in the past couple of days, another round of reports have come out.
These have centred around the possibility of an offer that would actually be large enough to meet Suning’s valuation. To date, the reason that any of the interest in buying Inter has come to nothing has been that no offers have been high enough.
InvestCorp have been a name that reports have linked with interest in buying Inter for some time now after failing in their bid to buy their city rivals, AC Milan before it was purchased by Redbird.
At the moment, the question marks around Suning’s ownership of Inter concern the financial situation at both the club and the parent company, especially the amount of debt is an issue. The current owners have yet to pay back the large loan that they took on from US-based fund Oaktree Capital in the spring of 2021.
That loan was to cover operating costs, and the owners put up the Nerazzurri as collateral. Meanwhile, Emirati fund Mubadala is another possible candidate with another report adding the Middle Eastern fund, alongside Investcorp as the likely subject of the reports of serious interest in buying Inter. The interest to taking over Inter is already at a serious stage.
The fund – either InvestCorp or Mubadala – have been studying the conditions for a sale. They have been in contact with Raine Group, the same investment bank that facilitated the takeover of Chelsea by a consortium led by American businessman Todd Boehly.
The current Inter owners have so far rejected all bids because they have held out for a higher offer. Suning reportedly want no less than €1 billion. They also rejected a chance to take on partners, as contained in this report and Finnish billionaire confirming that he also made an approach.
Amidst reports that Suning is not yet ready to sell, that they would like to hold on until at least 2025 when the expanded club World cup will take place with the Nerazzurri most likely to qualify, the interest buyer is also willing to increase their offer in a bid to get the deal done.
Simone Inzaghi is aiming to become the fourth ever Nerazzurri manager to win the first five matches of a Serie A season, following in the steps of Antonio Conte, Roberto Mancini, and Helenio Herrera. They have beaten all of Monza, Cagliari, Fiorentina, and AC Milan in the league so far. And they have done so in emphatic fashion, scoring thirteen goals and conceding just one, while Empoli have failed to take a single point in Serie A so far.
The Tuscans have yet to score a goal, and their most recent match is a 7-0 thrashing at the hands of Roma. Clearly, Inter and Inzaghi will feel that a continuation of their perfect start to the league season is possible. If they were to do so by taking three points away from the Stadio Carlo Castellani, the Nerazzurri would make it five from five to begin the season.
In Inter’s history, there have only been three instances when the team began a Serie A season with five wins in a row. There is a curious aspect to the three previous seasons that Inzaghi won’t want to repeat. On each of the three previous occasions that Inter have won their first five matches in a Serie A season, they have failed to win the Serie A title.
Instead, it has been Juventus who have prevailed on each occasion. Conte, Mancini, and Herrera did all go on to win the Serie A title. But never in the seasons when they have guided the team to five straight victories at the start of the season. Instead, the former Lazio manager will be hoping to break that jinx and add a second star to their badge.
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